JPMorgan Traders Set for Up to 20% Bonus Jump After Record Year
- Compensation likely to drop across bank’s other businesses
- Bank planning to freeze raises for VP-level workers and above
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JPMorgan Chase & Co. is planning to boost annual bonuses for its sales and trading workers even as payouts are set to decline across the company.
The biggest U.S. bank may increase variable compensation for traders by 15% to 20% after the business generated a record $23.5 billion of revenue in the first nine months of the year, according to people briefed on the preliminary discussions. Payouts will vary widely among desks depending on performance, and bonuses could still change as the process is in an early stage, said the people, who asked not to be identified because the information isn’t public.